To ensure that the States have sufficient funds to assure the effectiveness of the work requirements of the program of block grants for temporary assistance for needy families, to provide such funds through tax reforms, and for other purposes.
TABLE OF CONTENTS:
Title I: Grants to States for Operation of Work Programs
Title II: Revenue Offsets
Subtitle A: Corporate Reforms
Subtitle B: Foreign Provisions
Subtitle C: Accounting Provisions
Title III: Repeal of Prototype Demonstration of Advanced
Nuclear Reactor Technology
Making Work Requirements Work Act of 1996 - Title I: Grants Grants to States for Operation of Work Programs - Amends title IV (Temporary Assistance for Needy Families) (TEA) of the Social Security Act, as amended by the Personal Responsibility and Work Opportunity Reconciliation Act of 1996, to establish a program of supplemental grants to States for operation of work programs. Makes appropriations for such grants for FY 1997 through 2002.
Title II: Revenue Offsets - Amends the Internal Revenue Code in various ways to provide revenue offsets under subtitles A, B, and C.
Subtitle A: Corporate Reforms - Repeals the percentage depletion allowance for certain nonfuel minerals mined on Federal lands.
Subtitle B: Foreign Provisions - Revises the definition of foreign personal holding company income which is includable in gross income to include net income from notional principal contracts (except for dealers) as well as payments in lieu of dividends.
Modifies foreign tax credit carryback and carryover periods to eliminate the second carryback year and add sixth and seventh carryover years.
Modifies foreign tax credit rules applicable to dual capacity taxpayers state that certain amounts paid or accrued to a foreign country or U.S. possession shall not be considered a tax.
Revises rules relating to foreign oil and gas income to: (1) provide for separate basket treatment for foreign tax credits; and (2) eliminate deferral for foreign oil and gas extraction income.
Subtitle C: Accounting Provisions - Prohibits suspense accounts for family corporations required to use the accrual method of accounting. Requires a ten-year phase-out of existing accounts.
Title III: Repeal of Prototype Demonstration of Advanced Nuclear Reactor Technology - Amends the Energy Policy Act of 1992 to repeal the mandate and authorization of appropriations for: (1) commercialization of advanced light water reactor technology; and (2) the prototype demonstration program for advanced nuclear reactor technology.
Introduced in House
Introduced in House
Referred to the Committee on Ways and Means, and in addition to the Committee on Science, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on Science, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on Science, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Energy and Environment.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line